Maintaining an upward price trend over the last weeks, Brazilian slab exports to the US East coast are now negotiated in a range of $855/mt to $858/mt, against a range of $795/mt to $798/mt last week, while to the US West coast the range now is $860/mt to $865/mt, against $800/mt to $805/mt last week. Such quotations are CFR conditions for the basic commercial grades. Shipments from current negotiations are scheduled for March and April 2021.
A local source mentioned that slab exports are now focused on the US, although smaller volumes remain shipped to Canada, where reference prices are reportedly $20/mt to $40/mt lower than prices to the US. The source added that a high demand scenario persists worldwide for slabs, with production not sufficient to meet demand.
In December, Brazil exported 409,200 mt of slab, against 321,400 mt in November. Ternium exported 150,800 mt to the US at $513/mt, Pecem exported 148,700 mt to the US at $481/mt and ArcelorMittal exported 109,700 mt to Canada at $496/mt, all FOB conditions, different quality grades and price deals probably closed in October.